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NCM
Nantahala Capital Management Portfolio holdings
AUM
$3.01B
1-Year Est. Return
119.46%
This Fund
S&P 500
This Quarter
Est. Return
+19.85%
1 Year Est. Return
+119.46%
3 Year Est. Return
+340.9%
5 Year Est. Return
+347.01%
10 Year Est. Return
+3,143.27%
AUM
$3.01B
AUM Growth
+$299M
(+11%)
Cap. Flow
-$137M
Cap. Flow
% of AUM
-4.54%
Top 10 Holdings %
Top 10 Hldgs %
41.28%
Holding
178
New
26
Increased
27
Reduced
43
Closed
23
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
ADMA Biologics
ADMA
|
+$21.5M |
| 2 |
ADC Therapeutics
ADCT
|
+$19.6M |
| 3 |
Planet Fitness
PLNT
|
+$16.4M |
| 4 |
Fulcrum Therapeutics
FULC
|
+$14.8M |
| 5 |
IVA
Inventiva
IVA
|
+$12.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SLNO
Soleno Therapeutics
SLNO
|
+$58.4M |
| 2 |
Peloton Interactive
PTON
|
+$37.2M |
| 3 |
Establishment Labs
ESTA
|
+$35.7M |
| 4 |
Hilton Grand Vacations
HGV
|
+$23.2M |
| 5 |
Tango Therapeutics
TNGX
|
+$18.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 45.89% |
| 2 | Healthcare | 33.86% |
| 3 | Consumer Discretionary | 8.42% |
| 4 | Financials | 4.15% |
| 5 | Communication Services | 2.36% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
RH
RH
$2.58B
| $6.04M | 0.2% |
36,686
-21,105
| -37% | -$2.91M |
|
102
Envoy Medical
COCH
$54.6M
| $5.96M | 0.2% |
7,650,000
| – | – |
|
|
ELOX
103
Eloxx Pharmaceuticals
ELOX
$57M
| $5.55M | 0.18% |
+400,000
| New | +$5.1M |
|
104
Inhibikase Therapeutics
IKT
$325M
| $5.48M | 0.18% |
2,701,863
| – | – |
|
|
TRAX
105
First Tracks Biotherapeutics
TRAX
$1.33B
| $5.03M | 0.17% |
+250,000
| New | +$4.67M |
|
106
Hain Celestial
HAIN
$55.7M
| $4.78M | 0.16% |
8,528,789
| – | – |
|
107
Alta Equipment Group
ALTG
$189M
| $4.69M | 0.16% |
724,774
-210,000
| -22% | -$1.41M |
|
108
OrthoPediatrics
KIDS
$565M
| $4.64M | 0.15% |
242,342
+42,893
| +22% | +$746K |
|
109
Altimmune
ALT
$652M
| $4.56M | 0.15% |
+1,500,000
| New | +$4.48M |
|
110
TriSalus Life Sciences
TLSI
$292M
| $4.55M | 0.15% |
1,000,000
-1,070,827
| -52% | -$4.25M |
|
111
TELA Bio
TELA
$39.9M
| $4.42M | 0.15% |
5,894,114
+750,000
| +15% | +$614K |
|
112
The ONE Group
STKS
$49.4M
| $4.26M | 0.14% |
2,121,084
| – | – |
|
113
DarioHealth
DRIO
$67M
| $4.03M | 0.13% |
610,691
+1
| +0% | +$7 |
|
114
Immunic
IMUX
$159M
| $3.85M | 0.13% |
250,646
-3
| -0% | -$37 |
|
115
Zai Lab
ZLAB
$2.73B
| $3.8M | 0.13% |
+200,000
| New | +$3.95M |
|
116
Talphera
TLPH
$63.8M
| $3.6M | 0.12% |
3,492,519
| – | – |
|
|
CHYM
117
Chime Financial
CHYM
$12.4B
| $3.52M | 0.12% |
172,119
-27,881
| -14% | -$541K |
|
|
VENU
118
Venu Holding Corp
VENU
$100M
| $3.46M | 0.11% |
1,546,705
-500,000
| -24% | -$1.79M |
|
119
Payoneer
PAYO
$2.41B
| $3.44M | 0.11% |
483,836
| – | – |
|
120
Elutia
ELUT
$36.2M
| $3.12M | 0.1% |
3,184,947
| – | – |
|
|
KLRA
121
Kailera Therapeutics
KLRA
$1.93B
| $3.08M | 0.1% |
+140,000
| New | +$3.08M |
|
122
Rallybio
RLYB
$89M
| $3.01M | 0.1% |
188,422
-112,213
| -37% | -$1.44M |
|
|
ARTV
123
Artiva Biotherapeutics
ARTV
$512M
| $2.91M | 0.1% |
+300,000
| New | +$2.73M |
|
124
Destination XL Group
DXLG
$36M
| $2.77M | 0.09% |
4,141,740
| – | – |
|
125
Editas Medicine
EDIT
$404M
| $2.76M | 0.09% |
+852,700
| New | +$2.49M |
|
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Nantahala Capital Management's Q2 2026 Portfolio in Review
As of Q2 2026, Nantahala Capital Management held 178 positions worth $3.01B, up 11% from $2.72B the previous quarter. Its ten largest holdings account for 41% of the portfolio.
Nantahala Capital Management withdrew a net $137M in Q2 2026, closing 23 positions and reducing 43 holdings. Its most notable exit was Soleno Therapeutics, an estimated $58.4M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 46% of assets, up from 42% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Nantahala Capital Management opened a new position in ADMA Biologics worth $19.8M.
- Nantahala Capital Management's largest Q2 2026 buy was ADMA Biologics: 2,359,993 shares worth $19.8M.
- Nantahala Capital Management added most to ADC Therapeutics in Q2 2026, an estimated $19.6M increase.
- Nantahala Capital Management's biggest Q2 2026 reduction was Peloton Interactive, cutting an estimated $37.2M.
- Nantahala Capital Management fully exited Soleno Therapeutics in Q2 2026, selling an estimated $58.4M.
- Nantahala Capital Management's ten largest holdings make up 41% of its $3.01B portfolio in Q2 2026.
- Nantahala Capital Management opened 26 new positions and closed 23 in Q2 2026.
- Nantahala Capital Management's portfolio value rose 11% quarter-over-quarter to $3.01B.
Based on Nantahala Capital Management's 13F filing for Q2 2026, filed 14 Aug 2026.